Tilray Brands (NASDAQ:TLRY) Trading Down 7.4% Following Analyst Downgrade

Tilray Brands, Inc. (NASDAQ:TLRY) shares were down 7.4% on Tuesday after Roth Capital lowered their price target on the stock from $20.00 to $10.00. Roth Capital currently has a neutral rating on the stock. Tilray Brands traded as low as $8.67 and last traded at $8.75. Approximately 6,044,834 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 6,970,036 shares. The stock had previously closed at $9.45.

A number of other equities research analysts have also issued reports on the stock. Atb Cap Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, October 8th. Wall Street Zen upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Saturday, October 11th. Finally, Zacks Research downgraded Tilray Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $13.33.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Silverlake Wealth Management LLC acquired a new stake in shares of Tilray Brands in the 3rd quarter valued at $25,000. Oppenheimer & Co. Inc. bought a new stake in shares of Tilray Brands during the 3rd quarter worth about $25,000. Unified Investment Management bought a new position in shares of Tilray Brands in the 3rd quarter valued at approximately $26,000. J.W. Cole Advisors Inc. lifted its holdings in Tilray Brands by 203.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 71,890 shares of the company’s stock worth $30,000 after purchasing an additional 48,177 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Tilray Brands in the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds own 9.35% of the company’s stock.

Tilray Brands Stock Down 7.4%

The company has a quick ratio of 1.72, a current ratio of 2.81 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $9.73 and a 200-day simple moving average of $10.84. The stock has a market cap of $1.02 billion, a P/E ratio of -0.40 and a beta of 1.77.

Tilray Brands (NASDAQ:TLRY) last issued its quarterly earnings data on Thursday, January 8th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.27). The firm had revenue of $217.51 million during the quarter, compared to analyst estimates of $211.15 million. Tilray Brands had a negative return on equity of 6.35% and a negative net margin of 251.69%.During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Analysts expect that Tilray Brands, Inc. will post -0.2 EPS for the current year.

Tilray Brands Company Profile

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray’s product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.